Gallup poll: Average age to stop working 57, 59, 61, ….

[LOL!]

Apparently from this NYTimes article which mentionds a Gallup poll, it's average to retire early:
http://www.nytimes.com/2014/02/01/business/when-retirement-seems-impossible-or-just-boring.html

Although the average age at which current United States retirees say they stopped working is 61, up from 59 in 2003 and 57 in 1993,

 

[2B]

What I got out of the article is that we're not supposed to retire at all. That would certainly help keep SS solvent.

 

[ERhoosier]

Not the 1st article to say this, but I'm not sure current retirement surveys are entirely comparable to those in the past.
Older surveys (20-30+yrs ago) tended to more simplistic & viewed retirement as job-centric. Like asking somewhat vague "Have you retired from your job?", with no further questions if answering "yes". In such a survey, a gov't or union worker who "retired" from their FT after 30yrs was counted as "retired" even if they chose to continue PT w#rk or start a new career/business.
More recent surveys seem more in-depth and tend to have a more narrow definition of "retired". Perhaps surveys have evolved as folks have become less likely to label themselves as "retired". Early in my career, a professional guy who took his megacorp/gov't/univ pension at, say, age 58 & continued to do some PT projects said he was "retired". Today that same person calls himself a "consultant".

 

[ziggy29]

What I got out of the article is that we're not supposed to retire at all. That would certainly help keep SS solvent.

Offset by budget-busting unemployment, food stamp and Medicaid compensation for the young folks who can't get a job because the older folks can't retire.....

One way or another, we're gonna pay.

 

[LOL!]

… compensation for the young folks who can't get a job because the older folks can't retire.....

One way or another, we're gonna pay.

Actually, I've been thinking lately that my children will eventually inherit what's in my 401(k) plan, so I am not at all feeling bad about stealing from the younger generation. They will get it all back in the future … compounded!

 

[savory]

I think it is sad when smart, hard working people, who can afford to retire, cannot visualize what they can do beyond leisure activities. As one person said, ”what will I do all day, play golf ” I am confident they have the skills to contribute so much outside of their job.

 

[ziggy29]

Actually, I've been thinking lately that my children will eventually inherit what's in my 401(k) plan, so I am not at all feeling bad about stealing from the younger generation. They will get it all back in the future … compounded!

My dad actually told me before he passed that he expected to get a great deal out of SS while his kids got the shaft, so he purposefully invested part of his SS checks with the intention of passing it on as an inheritance. In his words, "you'll get a fair deal out of SS one way or another...."

 

[timwalsh300]

... ”what will I do all day, play golf[?]”...

Someone always says that, and I laugh. In my early twenties, for a period of about six months, I had the unusual opportunity to do exactly this. And it was wonderful. My brief taste of that lifestyle was further motivation to work toward early retirement for real.

The comments on the article suggest that nearly everybody wants to retire ASAP but can't (although I find it hard to believe that everybody is unable to save money, and/or their savings were completely wiped out in 2008-2009). As it has been pointed out on this forum before: people who don't want to retire tend to be folks who are in a position to choose their own hours, choose only the work they enjoy, and delegate everything else.

Tim

 

[Mulligan]

Someone always says that, and I laugh. In my early twenties, for a period of about six months, I had the unusual opportunity to do exactly this. And it was wonderful. My brief taste of that lifestyle was further motivation to work toward early retirement for real. The comments on the article suggest that nearly everybody wants to retire ASAP but can't (although I find it hard to believe that everybody is unable to save money, and/or their savings were completely wiped out in 2008-2009). As it has been pointed out on this forum before: people who don't want to retire tend to be folks who are in a position to choose their own hours, choose only the work they enjoy, and delegate everything else. Tim

I'm retired and would love to play golf six days a week but my balky back only allows 3/4 a week. I walk when I play so no problems with fitness, it's just the back twisting of the swing. It's probably best that way as all my friends are either too poor to play often, or waited until 40 to have children and can't get away anymore without getting in serious trouble with their spouse by leaving her with the kids.

 

[timwalsh300]

...too poor to play...

I think playing golf everyday actually saved me money back then. I bought a membership at a cheap course for ~$60/month which included unlimited greens fees (I always walked too, so that was free). Because I used it everyday, and it consumed so much time, it turned out to be my only entertainment expense. You could spend much more on a lot of other hobbies/activities. I always said you have to be careful, though. A lot of people fall into the trap of collecting expensive clubs, balls, clothing, or whatever else will make them feel like a pro. And then there is all the advertising in golf magazines/tournaments for expensive financial products...

Tim

 

[HFWR]

I think playing golf everyday actually saved me money back then. I bought a membership at a cheap course for ~$60/month which included unlimited greens fees (I always walked too, so that was free). Because I used it everyday, and it consumed so much time, it turned out to be my only entertainment expense. You could spend much more on a lot of other hobbies/activities. I always said you have to be careful, though. A lot of people fall into the trap of collecting expensive clubs, balls, [bold]clothing[/bold] or whatever else will make them feel like a pro.



Tim

I didn't know polyester was that expensive...

 

[Mulligan]

I think playing golf everyday actually saved me money back then. I bought a membership at a cheap course for ~$60/month which included unlimited greens fees (I always walked too, so that was free). Because I used it everyday, and it consumed so much time, it turned out to be my only entertainment expense. You could spend much more on a lot of other hobbies/activities. I always said you have to be careful, though. A lot of people fall into the trap of collecting expensive clubs, balls, clothing, or whatever else will make them feel like a pro. And then there is all the advertising in golf magazines/tournaments for expensive financial products... Tim

I'm with you, there Tim. My yearly membership is $250. I could pay $300 more for cart privileges, but that defeats the purpose of my wanting to exercise while playing. And
anytime I need clubs, I get the year old clearance models. I haven't bought golf balls in years. Easy to find other peoples lost balls when you are walking instead of riding.